Estimates

Estimates

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On review of Tax Return 2008 it was noticed at TR6 Box 20 that there has been a change in the wording of the (old) provisional box to include identifying and thus highlighting estimated items.

Where expenses are concerned what views has anybody got on this shift and its consequences in terms of disclosure
Anon

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By AnonymousUser
12th May 2008 11:35

Estimates
Noted, but the note given for 2007 is not still there for 2008, which focusses on allowance estimated for private use adjustments, not the wider note previously given

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By AnonymousUser
12th May 2008 08:54

Compare the notes
I don't think the shift is as marked as it might appear at first glance.

In the 2007 return, box 23.2 referred only to provisional figures. However, below the notes to that box (page 30 of the tax return guide) there is a note about estimates. That note includes the paragraph "You should also identify any figures in your Tax Return which may not be very reliable...But if you are including an estimate which, while not a precise figure, is sufficiently reliable to enable you to make an accurate Tax Return, there is no need to make a specific reference to it."

In the 2008 return, the note to box 20 on page TRG19 says "If you consider your estimates to be reliable, for example, some private proportions of business expenses, there is no need to draw attention to them."

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